Entra

Earnings Release • Apr 28, 2016

Rental income of 454 million (+ 3 % on Q1-15), net income from property management of 278 million (+ 32 % on Q1-15)

Rental income of 454 million (+ 3 % on Q1-15), net income from property management of 278 million (+ 32 % on Q1-15)

Oslo, 28 April 2016 - Entra ASA recorded rental income of 454 million in Q1

2016 (440 million). Net operating income was 429 million (406 million) and net

income from property management was 278 million (210 million).  The property

values increased by 182 million (716 million) but the effect was partly offset

by negative value changes on the financial instruments of -162 million (79

million). Profit before tax was 284 million (1 016 million) in the quarter.

Entra signed new and renegotiated leases with an annual rent totalling 78

million (38,000 sqm) in the quarter. The portfolio occupancy was 94.7 % (94.6 %)

at 31.03.16 and the management portfolio WAULT was 7.5 (7.4) years. Public

sector tenants represented 73 % of the customer portfolio as of 31.03.16.

During Q1 Entra has started up two new projects; in Trondheim Entra is building

Trondheimsporten, a 28 600 sqm new office/education building. In Cort Adelers

gate 30 in Oslo Entra is refurbishing a 4 750 sqm school/office. The two

projects are 77 % and 100 % pre-let to public tenants. During the quarter Entra

also finalised the 7 400 sqm renovation project in Fredrik Selmers vei 4 where

the Norwegian Tax Authority will move into about 52 % of the premises.

Q1 - 16 Q1 - 15 2015

Rental income 454 440 1 760

Net operating income 429 406 1 574

Net income from property management 278 210 799

Profit before tax 284 1 016 3 075

Cash Earnings per share* 1.5 1.1 5.0

EPRA Earnings per share* 1.1 0.8 3.2

EPRA NAV per share* 90 81 89

* 183.7 million shares ** Cash earnings in 2015 has been adjusted by NOK 115

million due to termination of swap contracts in Q2-2015. The termination fee was

defined as a one-off item and did not reduce cash earnings as a basis for

dividend for 2015

Entra ASA will present its financial and operating results today at 08:30 CET in

Biskop Gunnerus' gate 14 in Oslo. A live webcast of the presentation as well as

the full quarterly report is available on the company website www.entra.no

Oslo, 28 April 2016

Entra ASA

For further queries please contact: Arve Regland, CEO, tel: +47 479 07700,

email: ar@entra.no or Anders Olstad, CFO, tel + 47 900 22559, email:ao@entra.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

--- Entra is a leading owner, manager and developer of office properties in

Norway. Entra owns and manages 96 buildings totalling approximately 1.2 million

square meters, primarily located in Oslo and the surrounding region, Bergen,

Stavanger and Trondheim. The market value of the property portfolio is

approximately NOK 30 billion.---

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